On September 8, Obama’s “American Jobs Act” address to Congress was a thinly veiled campaign speech. More on it below.

On September 19 came Act Two to enlist support for “Living Within Our Means and Investing in Our Future” by cutting $4 trillion over 10 years (for starters with more to come) from Medicare, Medicaid, public pensions, veterans’ benefits, unemployment insurance, the US Postal Service, and other social benefits.

It’s part of a bipartisan plan to destroy America’s middle class, good-paying jobs and benefits, the dream of homeownership for millions, and a nation once fit to live in but no longer.

Obama “issued an unabashed call for economic fairness in cutting the federal deficit, asking as much from those on the economy’s upper rungs as from those lower down whose programs may be slashed.”

Fact check

Programs for working Americans will be slashed en route to gutting them entirely in out years. “Economic fairness” won’t happen because Republicans and many Democrats won’t tolerate it. Neither will Obama.

Taxes for the rich won’t be raised because he opposes it. His plan, in fact, backs comprehensive “pro growth” tax reform.

It involves cutting top individual and corporate rates in exchange for eliminating loopholes clever accountants can devise ways to keep.

Yet Times editors call his austerity plan “a well-proportioned mix.”

In fact, it benefits corporate favorites and America’s aristocracy at the expense of working households.

A previous article called it a combination left hook, right cross haymaker, decking workers when they need help.

“It pays for desperately needed jobs” that won’t be created because tax cuts create none.

While “disagree(ing)” with Republicans, he argued that “without a willingness to give on both sides, there’s no reason to believe (the current) stalemate won’t continue well into next year….I am not willing to let that happen….it would be the wrong thing to do.”

“As a result, we have arrived at a framework for a bipartisan agreement.”

Everyone got a tax cut on income, capital gains, dividends, and the Bush enacted federal estate tax that lapsed at the start of 2010, including the super-rich (who deserve higher, not lower taxes).

As expected, Obama caved to Republicans and deep-pocketed donors who’d likely give less if they paid more.

“Shared sacrifice” for him is transferring maximum wealth from working Americans to Wall Street, other corporate favorites, and super-rich elites already with too much.

Rhetoric aside, he’s got more of the same in mind now.

Times editors love it, saying only that “this plan was far too late in coming. But the public is listening now, and has demanded shared sacrifice. The burden is now on Mr. Obama to sell his plan, and on Congress to buy it.”

Fact check

He and Congress will indeed agree on a destructive austerity plan harming working Americans most to assure elitist interests know he’s the gift that keeps on giving.

It showed in his September 8 stimulus plan. It includes a laundry list of handouts instead of measures to create jobs, generate growth, reinvigorate Main Street, strengthen America’s middle class, and help growing millions of impoverished, disadvantaged households most in need.

No matter how it’s directed, $447 billion proposed won’t create jobs. It’s more of the same too little, too late for nation in serious trouble in the context of a sinking global economy.

In February 2009, when Obama proposed $787 in economic stimulus, unemployment was about 25 million. Two and a half years later, it’s the same. How then can half a loaf do now what double it earlier couldn’t. It won’t nor is that its intention.

In fact, it’s more a reelection than jobs plan if voters are foolish enough to buy it. Hopefully they’ll understand how it harms them.

Tax cuts can’t create jobs, yet they comprise about 60% of his plan. Despite well over $1 trillion for them in the last two years, zero jobs were created.

In fact, they’ve been less than zero when factoring in the replacement of full-time higher-paying jobs for uncertain lower wage/low or no benefit temporary or part-time ones.

Obama also proposed state subsidies as in 2009 to create jobs. Notably since then, hundreds of thousands of state and local government layoffs followed. They continue monthly.

In 2009, $100 billion was allocated for infrastructure spending to create four million jobs. It didn’t happen. In June 2009, 6.4 construction workers were employed. Today it’s less than 5.5 million.

Obama’s new plan is no better. Immediate job creation is needed. Construction and infrastructure ones are long-term and won’t help over any duration when boosted by minimal funding.

Moreover, Washington’s too-big-to-fail bailout didn’t restart lending. Major banks and other corporate giants are hoarding trillions of dollars instead of using them to stimulate growth and create jobs.

Today’s political Washington doesn’t prioritize them so expect none, Obama’s rhetoric notwithstanding. His agenda focuses on permanent wars and shifting maximum wealth to corporate favorites and America’s top 1%.

His new plans are old wine in new bottles, socking it to the constituencies that elected him.

Maybe next time they’ll have second thoughts and reject America’s duopoly entirely.

Unless they do, they’ll keep getting same old, same old no matter which party holds power.

Both represent institutionalized depravity responsible for turning America into a moral swamp.

Also visit his blog site at sjlendman.blogspot.com and listen to cutting-edge discussions with distinguished guests on the Progressive Radio News Hour on the Progressive Radio Network Thursdays at 10AM US Central time and Saturdays and Sundays at noon. All programs are archived for easy listening.

About the author:

Stephen Lendman lives in Chicago. He can be reached at [email protected]
His new book as editor and contributor is titled "Flashpoint in Ukraine: US Drive for Hegemony Risks WW III."
http://www.claritypress.com/LendmanIII.html
Visit his blog site at sjlendman.blogspot.com.
Listen to cutting-edge discussions with distinguished guests on the Progressive Radio News Hour on the Progressive Radio Network. It airs three times weekly: live on Sundays at 1PM Central time plus two prerecorded archived programs.

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